Surrender Value in Insurance
Recently, the Insurance and Regulatory Development Authority of India (IRDAI) released a crucial consultation paper on increasing the surrender value for life insurance policies.
About Surrender Value
- The surrender value of an insurance policy is the amount that the insurance company will pay the policyholder back when he or she decides to terminate the policy before maturity.
- It applies only to those term insurance policies with a surrender benefit.
- The surrender value is usually a percentage of the total premiums paid minus any applicable charges or fees.
Factors for Calculation of Surrender Value
- The surrender value calculation in term insurance ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
- 1 Electronic Soil
- 2 RBI Issues Norms on Dividend Declaration by Banks
- 3 SEBI Proposes T+0 and Instant Settlement Cycle
- 4 SEBI amends Rules for Zero Coupon Zero Principle Instruments
- 5 RBI expands the Scope of COFT
- 6 RBI’s Clarifications on Green Deposits
- 7 Payments Infrastructure Development Fund Scheme
- 8 Securities Appellate Tribunal
- 9 Centre Extends PLI Scheme for Auto Sector
- 10 Interest Equalisation Scheme on Pre- and Post-Shipment Rupee Export Credit
- 11 Centre Promoting India as a global MICE Destination
